Posted AT 5:35 PM EDT on 13/08/04
U.S. giant seeks to buy The Bay
U.S.-based Target Corp. is in advanced talks to buy part or all of Hudson's Bay Co., the 334-year-old Canadian institution that owns The Bay and Zellers department stores, sources say.
The sale of HBC would leave Canada's oldest company in foreign hands, relegating to the history books a firm that opened up the country after receiving a monopoly to trade on all the rivers flowing into Hudson Bay, dating back to 1670.
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